Bitcoin, Ethereum and Jerome Powell
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Jerome Powell’s Jackson Hole speech raised Fed rate cut expectations in September, triggering a strong Ethereum price rally to all-time high.
10hon MSN
Why Ethereum Jumped 13% Today
Ethereum jumped about 13% after Jerome Powell's Jackson Hole comments hinted at possible rate relief in September. Lower interest rates generally lift risk assets because cheaper capital encourages more speculative trades. Investors should expect turbulence, but Ethereum has a bright long-term future.
Ethereum hits $4,869 for the first time since 2021 as Powell signals possible Fed rate cuts, lifting Bitcoin and altcoins.
Arthur Hayes says Ethereum could soar to $20K this cycle on ETH treasury buying and ``absolutely insane'' US money printing.
Bitcoin, the world’s largest cryptocurrency, is also up. It’s jumped about 4% over the past day to now around $117,000, per Binance. The total market capitalization of all cryptocurrencies has risen 6% to more than $4.1 trillion, mirroring the broader surge in the stock market. The S&P 500 is up 1.5% since trading began Friday morning.
Arthur Hayes discusses his Ethereum price prediction, suggesting a retest of $4,000 if Powell delivers hawkish remarks at Jackson Hole.
Ethereum trades at $4,211 after its strongest quarterly returns since 2021, with traders watching $4,500 liquidity for the next move.